jane foley stays with us.uffy forget, bloomberg tv and radio will ring you special coverage of the french presidential election. that hits your screens on sunday afternoon. six: it is 19 minutes past in london. siemens reported second-quarter sales of 22.2 euros. the company said it expects a business margin. joining us from munich to discuss the numbers is the siemens' cfo. the profit rises by 18%. you confirmed to the outlook. is there as we go through the years, you hope that you will be able to upgrade your outlook on those numbers? guest: thank you for having me this morning. and you're right, siemens is strong -- has another quarter with continued profitable growth, 5% revenues increase, it is quite something in a challenging environment. the good thing all divisions affect contribute into the growth, eight out of nine being in or above the target margin range. that has been through momentum. have been -- we benefiting in the second quarter. we expect momentum to carry over into the second half of the ye

with us is jane foley who's a senior fx strategist at rabo bank. the times front page, predictions of tory losses. we know the history of modern polling, but it is an interesting turn of events. just eight days to go? yes, and they beanpole suggesting she could win in a landslide. this appears quite different. some polls have suggested that labour has been gaining momentum. many have suggested that this is because of the dementia tax, theresa may has done a u—turn on that. it has to be said that with this particular poll, there is a lot of variation. there are results that suggest she could even win 8015 seat majority ——a 15—seat. suggest she could even win 8015 seat majority --a15-seat. giving that there have been so many wrong predictions, with the brexit referendum in the us election, it is difficult to know? yes, and of course with the uk elections last year. we will have to wait and see. volatility, this ongoing difficulty between angela merkel and donald trump? an interesting headline, donald trump clashing with germany. this is a repeat of w

let's get out to jane foley over at rabobank. do you think the chinese story will dent sentiment for other emerging asian market currencies? >> i think it certainly dents sentiment. even if we look at the g10 currencies overnight, some of the worst performers a the yare japanese yen. they have exposure to china as do a lot of countries in the region as do other commodity countries. there is a big issue with china related to the debt. this is what moodies is highlighted again. moody's has not pressed that panic button. chinese paper is still investment grade. but it does send a signal. what it suggests is that it may be less of a good thing, of course, for international investors to invest money in china. now, those signals are very much there. what we've had in china in recent months is an effort for them to try to protect the value of their currency. not let it push down. by doing that, they have stopped people from being able to take money out of china. that, too, has been a bad signal for many investors. of course without inve

joining us is jane foley, senior currency strategist, rabobank.these conversations about what is going on in the united states. we have been talking about japan with currency playing a huge part and the dollar weakening significantly. this does not help tokyo at all. give us your ta ke not help tokyo at all. give us your take on all of this. the yen is a safe haven. whenever there is little attention the yen goes up. the dollar perhaps is more interesting. it has a very murky relationship with safe haven flows. the us treasury market, us government debt, isa treasury market, us government debt, is a prime piece of paper people wa nt is a prime piece of paper people want at times of political stress. that can support the dollar. now the dollar is under pressure because the market is disappointed the reform programme may not happen. a quick word on that. we talked about at the start of the programme, what was happening in the united states. is it general disappointment that all of the sugar high we got on the campaign trail may not turn out to be mu